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JPMorgan Chase and Co. boosted its holdings in SPDR Doubleline Total Return Tactical ETF (NYSEARCA:TOTL) by 317.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 53,447 shares of the company's stock after purchasing an additional 40,644 shares during the period. JPMorgan Chase
State Street DoubleLine Total Return Tactical ETF receives a renewed "Sell" rating due to lackluster performance versus peers and high expenses. TOTL's total return since inception is nearly identical to AGG, failing to justify its 0.55% expense ratio. The fund's portfolio is heavily weighted toward mortgage-backed securities and Treasuries, with moderate interest rate risk and high credit quality.
A compelling observation was made by Jeffrey Sherman, deputy chief investment officer at DoubleLine, on stage at the Astoria Advisors Macro Summit. He had just stated, “As a bond investor, I'm here to tell you that we're not special, but that we tend to be more risk-averse.
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The SPDR® DoubleLine Total Return Tactical ETF aims to outperform its benchmark by exploiting mispricings in the bond market. The fund is actively managed and has the flexibility to invest in asset classes beyond the benchmark. Despite its active management approach, the fund has not consistently outperformed a passive bond market ETF proxy of its benchmark.
SPDR® DoubleLine Total Return Tactical ETF is an actively managed debt fund with a 12-month trailing yield of 4.88%. The TOTL ETF portfolio has a low risk profile, but it has missed its objective to outperform its benchmark since inception. It has underperformed 4 of its close competitors over the last 15 months.